Cameco (NYSE:CCJ) Posts Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Cameco (NYSE:CCJ) (TSE:CCO) posted its quarterly earnings data on Friday. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13), Briefing.com reports. Cameco had a return on equity of 7.59% and a net margin of 10.20%. During the same quarter last year, the business posted $0.07 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis.

Here are the key takeaways from Cameco’s conference call:

• Negative Sentiment: Cameco reported lower third-quarter and nine-month results year over year, primarily due to the planned Key Lake mill outage, lower production, higher costs, inflation, and the absence of a prior-year Westinghouse payment.
• Neutral Sentiment: The company narrowed 2026 uranium production guidance to 19.5–20.5 million pounds and delivery guidance to 29.5–30.5 million pounds, while raising expected direct administrative and average unit costs; full-year capital spending is now expected to be lower because some projects were deferred.
• Positive Sentiment: Management described uranium contracting as increasingly constructive, citing market discussions involving escalated floors in the mid-to-high $70s, ceilings near $160, and three-digit base prices, while maintaining a disciplined approach to adding volumes.
• Positive Sentiment: Cameco remains highly optimistic about nuclear expansion, including potential U.S. and Korean AP1000 projects, and believes constrained Western fuel-cycle capacity, reactor life extensions, restarts, and new builds support long-term demand for its uranium, conversion, fuel services, and Westinghouse businesses.
• Neutral Sentiment: CFO Heidi Shockey plans to retire at the end of March 2027, with Treasurer Leah Hipperson becoming CFO on January 1, 2027; the board also declared a 2026 dividend of CAD 0.24 per share, unchanged from 2025.

Cameco Stock Down 7.9%

Shares of Cameco stock traded down $6.62 on Friday, hitting $76.87. 9,548,310 shares of the company traded hands, compared to its average volume of 3,527,543. The company has a 50-day moving average price of $91.00 and a 200 day moving average price of $104.35. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. Cameco has a 12-month low of $73.89 and a 12-month high of $135.24. The company has a market cap of $33.48 billion, a PE ratio of 130.29, a PEG ratio of 1.69 and a beta of 1.17.

Key Cameco News

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Uranium prices rose approximately 8% during the quarter, while Cameco said nuclear-industry fundamentals remain strong. The company reiterated that its disciplined strategy and integrated exposure, including Westinghouse, support long-term value creation. Cameco Q3 2026 earnings call transcript
• Positive Sentiment: Cameco declared an annual dividend, with the company signaling a payment of approximately $0.24, providing continued shareholder income despite near-term earnings volatility. Cameco dividend and production outlook
• Neutral Sentiment: The company narrowed its 2026 uranium production outlook to 19.5 million–20.5 million pounds. The tighter range improves visibility, but the lower production pace highlights ongoing execution and maintenance risks. Cameco production outlook
• Negative Sentiment: Third-quarter adjusted earnings per share were $0.10, below the $0.23 analyst consensus. Profit for the first nine months also declined, reinforcing concerns about earnings volatility. Cameco stock falls after lower nine-month profit
• Negative Sentiment: Planned maintenance and an outage at Key Lake reduced production by about 20% and sharply pressured quarterly revenue and earnings. Investors are concerned that mine disruptions, rising costs, and Westinghouse execution could undermine Cameco’s raised revenue outlook. Cameco Q3 2026 earnings
• Negative Sentiment: Unusually heavy put-option activity—49,822 contracts, more than double typical volume—signals increased near-term hedging or bearish speculation, although it does not by itself confirm future performance.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CCJ. Citigroup reissued a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Weiss Ratings raised Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Jefferies Financial Group started coverage on Cameco in a report on Thursday, September 3rd. They set a “buy” rating and a $138.00 price target on the stock. Barclays dropped their price target on Cameco from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. Finally, Bank of America reduced their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.93.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.